Bitcoin Short Term Struggles, while Blockchain finds Friends

Deloitte Issues a Blockchain Report and Significant Warning to Naysayers

Deloitte, the giant accounting, and consulting business have published a report which has essentially warned corporations to investigate and implement the use of blockchain in the coming years or fall behind within their respective industries.

The enthusiasm for blockchain and its potential impact via distributed ledgers is increasing. Passionate businesses which believe they can vastly improve and replace cumbersome and chaotic data records whose systems are prone to mistakes are manifesting across the corporate landscape.

Not only is the financial industry focusing on blockchain because of the growing cryptocurrency trading industry which often endeavors to speculate on the value of the coins but they are intrigued by the promise of a better payments system. And manufacturing, healthcare, and logistical companies are some of the private sectors investigating the use of the technology.

United Nations and the World Food Programme Testing Distributed Ledgers

Charities and government accounting offices within the public domain are also studying the benefits of blockchain and beginning to run pilot programs to test and quantify results. The United Nations announced earlier this year they are intent on implementing a system which helps the likes of the World Food Programme and other NGOs.

The ability to share via a secure network which is transparent a precise record of data via blockchain with traceable entry points, and what the next steps will be – allows users to focus on accurate information and has the capability of decreasing waste while helping quantify a variety of results which will likely produce reduced costs for consumers.

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FedEx and IBM are Two Major Players Using Blockchain Technology

FedEx and IBM are just two of the many global companies which are beginning to initiate pilot blockchain programs. FedEx is intent on allowing blockchain to help its logistic services. IBM is building a platform which will provide its services to other corporations in an effort to create a solid base of communication digitally, which will help them create a history of transactions and accountability.

So while Bitcoin and other cryptocurrencies suffer from their current downturn, investors should also keep their eyes on the blockchain technology which is the foundation of the industry.

Yaron Mazor is a senior analyst at SuperTraderTV.

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